TransAlta (NYSE:TAC) Issues Earnings Results, Beats Expectations By $0.08 EPS

TransAlta (NYSE:TAC) (TSE:TA) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08, Zacks reports. TransAlta had a negative net margin of 2.76% and a positive return on equity of 8.85%.

TransAlta Price Performance

Shares of TransAlta stock opened at $12.72 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 3.64. The company has a market cap of $4.02 billion, a PE ratio of -70.69 and a beta of 0.73. The business has a 50 day moving average of $12.40 and a 200 day moving average of $12.94. TransAlta has a 52 week low of $11.38 and a 52 week high of $17.81.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Tuesday, December 1st will be paid a dividend of C$0.07 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.28 annualized dividend and a dividend yield of 2.2%. TransAlta’s payout ratio is -105.56%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TAC shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TransAlta in a report on Friday, July 17th. Weiss Ratings upgraded shares of TransAlta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. BMO Capital Markets reiterated an “outperform” rating on shares of TransAlta in a report on Monday, August 3rd. Finally, Zacks Research raised TransAlta from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, TransAlta has an average rating of “Moderate Buy” and a consensus price target of $24.50.

TransAlta Company Profile

TransAlta Corporation is a Canada-based power generation and wholesale marketing company headquartered in Calgary, Alberta. The company develops, owns and operates a diversified portfolio of electricity-generating facilities, including hydroelectric, wind, solar, natural gas and coal-fired power assets.

TransAlta supplies electricity to utilities, commercial and industrial customers, and wholesale markets. Its activities include power generation, energy marketing, asset management and the development of renewable energy projects.